| Every business, commercial, construction, & consumer loan I've ever closed has included a statement stating that the information contained within the application was accurate as of the day of closing. The actual forms used varied substantially depending on the type of loan; but somewhere in the pile of papers that I put in front of borrowers was that statement... Be aware that if requested to initial and/or sign your application's accuracy at closing & you remain silent about your employment status...that is bank fraud. By including your income & having it verified by your lender...you are using that income to evidence your ability to service the debt. It sounds like your income is not necessary to qualify for the re-finance. However, bank fraud is bank fraud & never a good thing. How far along is your underwriting? You mentioned a mid-July closing. That's still a long ways off. When does your lock expire? If loss of your income really doesn't negatively impact your ratios...your lender should be able to make the adjustments long before a mid-July closing. And, you'll sleep much better knowing you were up front & honest in the information you provided to the lender & that they are, in turn, relying on. It's a bit trickier if you're still actually working on the day you close the re-finance. But, since you've had 'material notice' of the lay-off well in advance of closing the loan...your application is less than 100% truthful. You'll have to decide if you can live with that decision. Hmmm, I just thought about something. My DH is head of all leading at a large regional financial institution. He mentioned to me a few weeks ago (back during all the news hype over escalating layoffs) that they were asking employers when they called for employment verification whether any layoffs were planned at the company. DH said that some companies provided the information & others refused. But, there might be 'some' chance your re-finance lender will find out about your layoff directly from your employer. I have no idea how large that chance might be? Sorry about the loss of your job but glad to hear you'll be OK on just your DH's income. /tricia | 
